GE Vernova T&D India, Hitachi Energy India, CG Power to benefit from GEC-III: Nomura

Grupo México plans to invest $4B-$6B in its U.S. unit, Asarco, to expand copper mining and restart a smelter. Freeport-McMoRan (FCX) and Southern Copper (SCCO) reported strong Q2 earnings, driven by AI and data center demand. GE Vernova (GEV), Eaton (ETN), and Hubbell (HUBB) also benefit from infrastructure investments, with mixed stock performance.

GE Aerospace expects to deliver over 3,200 engines to India in the next 9-10 years, driven by the country's aviation growth. The company cites its engineering capabilities, local partnerships, and a Bengaluru technology center as key factors. GE also plans to double supplier spending in India by 2030 and supports IndiGo's engine MRO facility.

GE Aerospace stock fell 3.7% on October 20, 2026, despite raising its 2026 forecast. The company increased its operating profit forecast to $10.9B-$11B and adjusted EPS to $8.00-$8.10. Q3 earnings beat expectations at $2.25 per share, with revenue matching estimates at $13.3B. Commercial engines and services revenue grew 21%, marking six consecutive quarters of at least 20% growth.

U.S. President Trump reversed his decision to ban Bombardier sales in the U.S. The Canadian and Ontario governments announced a $5.2B tariff relief plan. Hitachi plans a $479M factory in Ontario. Ottawa gave Stelco's owner 15 days to address alleged violations. Davie signed a $500M shipyard modernization agreement.

GE Vernova's shares fell 0.19% to $825.87 on October 23 ahead of its October 28 earnings report. The company has a $176 billion backlog, with $24.2 billion in orders and $11.1 billion in Q2 revenue. Investors will watch cash conversion, as full-year revenue is projected at $45.5B–$46.5B and free cash flow at $11.5B–$12.5B, according to management.

GE Aerospace (GE) stock fell 2.5% on Wednesday, marking a 9% decline this week. Despite beating earnings estimates with $2.25 per share and $13.3B in sales, Bernstein analyst Douglas Harned lowered his price target to $376, citing concerns over rising jet fuel prices due to the Iran war. GE's stock trades at 36x current-year free cash flow, with analysts forecasting 18% annual profit growth over the next five years.